Every year, governments spend tens of billions of dollars on tax breaks for private companies. Now, state and city governments will have to start reporting it as lost income.
By Puck Lo / Yes! Magazine
In 2013, Chicago’s Board of Education announced that due to a $1 billion deficit, the city was closing some 50 public schools. The same year, Mayor Rahm Emanuel gave more than $55 million in public tax money to build a new basketball arena and hotel. Many outraged students took to the streets to protest. Asean Johnson, nine years old at the time, was one of them. [Read more…]